HERBALIFE VIETNAM SINGLE MEMBER LIMITED LIABILITY COMPANY

HERBALIFE VIETNAM SINGLE MEMBER LIMITED LIABILITY COMPANY (Công Ty TNHH Một Thành Viên HERBALIFE Việt Nam) has operated in Vietnam since June 15, 2009. The company is legally registered as a one-member limited liability company with foreign direct investment status. It operates under Business ID and Tax Identification Number (TIN): 0309069208, with its head office located at No. 26 Tran Cao Van Street, Vo Thi Sau Ward, District 3, Ho Chi Minh City.

This Vietnamese arm of the global Herbalife brand is entirely owned by HERBALIFE INTERNATIONAL LUXEMBOURG S.À R.L., based in Luxembourg. The current director and legal representative is Mr. Vu Van Thang, a Vietnamese national, whose leadership corresponds with the company’s efforts to stabilize local operations. As of the most recently reported figures, Herbalife Vietnam employed 49 staff members, according to 2020 data.

Financially, HERBALIFE VIETNAM SINGLE MEMBER LIMITED LIABILITY COMPANY reported total sales of approximately USD 290.85 million in 2023, representing a decrease of nearly 5% compared to the previous year. Despite the drop in revenue, the company posted a net profit of USD 4.1 million, a 37.67% improvement from the previous year’s sharply reduced profit levels. Owner’s equity also rose by 9.41% in the same period, reaching USD 47.73 million, indicating retained earnings and moderate financial strengthening.

However, the company’s total assets have declined steadily over the last two years, falling from USD 93.8 million in 2021 to USD 72.26 million in 2023, including a 9.04% decrease just in the past year. While the company still maintains a high working capital level of USD 43.51 million, this downward trend in asset value could reflect shrinking operations, inventory drawdowns, or reduced investment in infrastructure or logistics.

HERBALIFE VIETNAM SINGLE MEMBER LIMITED LIABILITY COMPANY operates under a multi-level marketing (MLM) distribution model, focusing on functional foods that support health and beauty care. It maintains a retail and support presence in both Hanoi and Da Nang, supplementing its headquarters in Ho Chi Minh City. The company is officially registered for the wholesale of food and indirect retail sales outside traditional store formats, in line with Herbalife's global business model. While this model allows for efficient distribution, it also exposes the company to reputational risks and heightened scrutiny from Vietnamese regulators, especially given the sensitivities surrounding MLM practices in the local market.

Overall, HERBALIFE VIETNAM SINGLE MEMBER LIMITED LIABILITY COMPANY remains a notable player in the nutritional and health supplement sector in Vietnam. It is backed by a strong global parent and continues to generate profit. However, the recent declines in both revenue and asset base, combined with a lean workforce and a reliance on MLM strategies, suggest the company is in a phase of recalibration. Whether this will lead to a more sustainable local presence or a strategic retreat will likely depend on how effectively it adapts to changing market dynamics and regulatory expectations.

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